America's global trade deficit grows more and more.
Dear future President,
America's problem with global trade deficit is that we are importing more than we export. According to the US TradeCenus (2015), the US spent $2.23 trillion in exports and $2.76 trillion in imports. Now this is a problem because this adds on to our debt. If this continues this will weaken our economy.
Since 2001-2007 the US dollar has decreased in its value compared to the Euro. Meaning that any of the products made in America has 40% less value than those made in Europe. Making it more expensive for us to export products than the Europeans. As this trend continues many businesses, as they already do, will look out to third world market countries to plant their business there. Causing Americans to lose potential jobs.
As one thing ties to another, the economy , if this problem isn't to be stopped, will weaken rapidly. This will cause Americans to struggle and the country to step up try to get out of such a high deficit. We won't have to do that if we do something about this horrendous deficit right now. How do you plan to decrease our deficit?